'Oldest' city business to shut due to costs
A business that has been trading for 295 years has decided to close while it is still able to pay its staffs, suppliers and creditors, it said.
Astleys in Coventry, which specialises in workwear, personal protective equipment, tools and cleaning products, announced in a statement it was "conducting a controlled shut-down" and "entering solvent liquidation".
The business, which operates from a distribution centre on Coventry Business Park has described itself as the city's "oldest".
Bosses said in a statement a number of factors had led to the decision, but operational costs were the "most difficult" problem.
They added higher rates of employment taxes and minimum wage were "increasingly difficult to swallow" and changes to buying habits, which had been "exacerbated by Covid", had also impacted the business.
The statement, which the business released on its website, also said customers had expressed shock and disappointment over the news.
"We have heard that Astleys is part of Coventry and indeed, after 295 years of employing Coventrians, serving Coventry businesses and paying our taxes and dues, we also feel that sentiment," the statement said.
"If only history paid the bills."
The business thanked its previous customers and wished them luck for the future.
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